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So confused... our offer was accepted on a house...
hey everyone - was hoping for some info - since i am very confused. dh and i put an offer on a house and it was accepted on friday...... we had a buyers agent and he told us to schedule an engineer for an inspection right away and to get a lawyer...
we got the inspection scheduled for monday and have a call into a lawyer (since its the weekend) - we drove by the house today and the real estate was there showing it both times we drove by - is this right?
also, everyone that we told seems to think that we shouldnt have an inspection done until a contract is signed - which we havnt been asked to do yet.
is this right? can they sell it to someone else since we havnt signed a contract yet - we asked our buyers agent and they said that they are morally obligated not to accept another offer there are no guarantees...
has this been anyone else's experience?
thanks in advance
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Posted 2/10/07 5:53 PM  |
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Prudential Douglas Elliman Real Estate
Long Island's Largest Bridal Resource | Long Island Weddings |
Blu-ize
Plan B is Now Plan A
Member since 7/05 32475 total posts
Name:
Susan
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Re: So confused... our offer was accepted on a house...
They can keep showing it until you go to contract. In fact, it's in their best interest to do so. Lots of offers fall through and time is money. They could have one fall through and another waiting in case.
The quicker you act the more serious you look. You got the inspection scheduled Monday which is perfect. You do need to get the inspection done before contract so you can specifiy any things that may need attention or that may influence the price of the house. The inspection may even turn up something that may make you not want the house.
So you are in good shape. You will talk to a lawyer on Monday and give them your lawyers info.
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| Posted 2/10/07 5:57 PM |
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Jacksmommy
My love muffin!
Member since 1/07 5819 total posts
Name:
Liz
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Re: So confused... our offer was accepted on a house...
Until your contracts are signed they can show the house but usually they say there is an accepted offer on the house. I called the house I was half signed with and they even said they were still showing so I got very nervous. Also, definately schedule your inspection before you sign the contracts. It didn't take very long for me. Our offer was given and accepted on the 27th, I got it inspected on the 29th, signed my part of the contracts on the 2nd and just got a call today that it is totally signed!
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| Posted 2/10/07 5:58 PM |
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MrsFlatbread
Skinny jeans are in my future
Member since 6/06 10258 total posts
Name:
Baby Momma
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Re: So confused... our offer was accepted on a house...
yes. Unfortunately until contracts are fully executed someone else can buy the home. They still show the home until the contracts are signed. You want to have the inspection before you sign the contracts because there may be something wrong with the house that you may not even want to sign contracts. When we were having our inspection done, another REA came into the home to show the house.
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| Posted 2/10/07 5:59 PM |
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Re: So confused... our offer was accepted on a house...
ok thanks so much... i feel much better now --- it seems that anyone that we told this to - told us we should sign the contract before the inspection and that they shouldnt be showing it.. so i feel much better now!!!!!
so thanks again
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| Posted 2/10/07 6:01 PM |
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PotofLuck06
Our Baby Boy Is Here!!!
Member since 11/06 13241 total posts
Name:
Betsy
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Re: So confused... our offer was accepted on a house...
Posted by Blu-ize
They can keep showing it until you go to contract. In fact, it's in their best interest to do so. Lots of offers fall through and time is money. They could have one fall through and another waiting in case.
The quicker you act the more serious you look. You got the inspection scheduled Monday which is perfect. You do need to get the inspection done before contract so you can specifiy any things that may need attention or that may influence the price of the house. The inspection may even turn up something that may make you not want the house.
So you are in good shape. You will talk to a lawyer on Monday and give them your lawyers info.
This about sums it all up. Good luck!
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| Posted 2/10/07 6:08 PM |
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Kelly9904
Mommy to 2 amazing little boys
Member since 5/05 9306 total posts
Name:
Kelly
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Re: So confused... our offer was accepted on a house...
When we sold our house, we continued to show it until the day AFTER the inspection was held. Its very common as the previous posts state.
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| Posted 2/10/07 6:36 PM |
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MrsT
Enjoying wedded bliss.....
Member since 4/06 1323 total posts
Name:
Katrina
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Re: So confused... our offer was accepted on a house...
Posted by jsdesignz
we asked our buyers agent and they said that they are morally obligated not to accept another offer there are no guarantees...
Unfortunately, this does not mean a lot to most Sellers. I have had customers ask me to keep showing their house to get back up offers - just in case.
The agent will continue to show the house until a contract is signed and even then the house may still be advertised or shown for a bit longer. Real estate deals fall through for various reasons (after contract and even at the closing table) so it's in the Sellers best interest to keep showing it or to at least keep advertising it although there is an accepted offer.
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| Posted 2/10/07 8:09 PM |
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ckdk
My girls
Member since 5/05 7027 total posts
Name:
Cheryl
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Re: So confused... our offer was accepted on a house...
absolutely do not go to contract before the inspection...what if there is serious damage to the house? so many things can be found during an inspection and it's also possible to negotiate the price if they find something major...
Good luck!
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| Posted 2/11/07 10:37 AM |
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cjik
Welcome 2010!
Member since 2/06 8879 total posts
Name:
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Re: So confused... our offer was accepted on a house...
No, as others have said, this is all pretty normal stuff. We continued to show our co-op till we have a contract, and the people we will very likely buy from are still showing their house. As people said, offers do fall through.
Also, get the inspection before you sign the contract. Once it's signed, you are stuck with the house (most sellers do not want to put a contingency clause in there). In the scheme of things, it's worth it. Hope it went well!
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| Posted 2/12/07 8:23 AM |
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kerrycec03
Mom of 2 beautiful boys!!
Member since 6/06 13519 total posts
Name:
Kerry
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Re: So confused... our offer was accepted on a house...
Posted by PotofLuck06
Posted by Blu-ize
They can keep showing it until you go to contract. In fact, it's in their best interest to do so. Lots of offers fall through and time is money. They could have one fall through and another waiting in case.
The quicker you act the more serious you look. You got the inspection scheduled Monday which is perfect. You do need to get the inspection done before contract so you can specifiy any things that may need attention or that may influence the price of the house. The inspection may even turn up something that may make you not want the house.
So you are in good shape. You will talk to a lawyer on Monday and give them your lawyers info.
This about sums it all up. Good luck!
Ditto
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| Posted 2/12/07 9:59 AM |
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